QXO, Inc. vs RELIANCE, INC., two Distribution stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
QXO is a building-products rollup burning through losses to acquire scale, a negative 5.07% return on equity; Reliance is a profitable, established metals distributor earning 11.28%. Reliance trades at 25.1 times real earnings and 2.81 times book; QXO at no earnings multiple and 1.30 times book, its value in the platform it is building. Reliance pays a dividend and converts 3.05% free cash; QXO reinvests everything. The pair sets an unproven assembler against a proven operator: Reliance shows the steady returns a mature metals-distribution network throws off, QXO is spending to reach that stage in building products, and the buyer chooses measurable returns over a bet on the rollup's eventual scale.
Comparison updated 2026-07-11.
| Metric | QXO | RS |
|---|---|---|
| Price | $14.98 | $380.17 |
| Market cap | $11.2B | $19.8B |
| Sector | Distribution | Distribution |
| Stage | Growth | Mature |
| Implied growth (priced in) | — | +10.5% |
| P/E | — | 24.8 |
| P/B | 1.10 | 2.77 |
| P/S | 1.30 | 1.33 |
| EV/EBITDA | — | 15.3 |
| Revenue growth | +200.0% | +8.7% |
| Gross margin | 23.7% | — |
| Operating margin | -14.6% | 9.1% |
| Net margin | -6.0% | 5.4% |
| Return on equity | -5.1% | 11.3% |
| Return on assets | -3.1% | 7.4% |
| Return on invested capital | -2.7% | 9.5% |
| FCF yield | 1.8% | 3.1% |
| Dividend yield | — | 1.3% |
| Debt / equity | 0.30 | 0.24 |
| Current ratio | 3.33 | 4.39 |
| Altman Z (solvency) | 1.76 | 6.04 |
| Piotroski F (quality) | 3 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.